Financial Tribune - Gold coin prices faltered on Tuesday in the domestic market after reaching to the all-time high a session earlier.

Emami gold coin, which hit a historic high of 112.4 million rials on Monday, lost close to 2%, or 2 million rials on Tuesday to be priced at 110.4 million rials.

Bahar Azadi gold coin was unchanged at 106 million rials. One gram of 18-carat gold dropped 0.12% to reach 10.61 million rials, according to the Tehran Gold and Jewelry Union website.

In global markets, gold fell as much as 1.8% on Tuesday from an all-time peak as the dollar firmed and investors squared positions after a rapid rally, Reuters reported.

Spot gold was 0.5% down at $1,931.84 per ounce for the day, retreating from a record $1,980.57 hit earlier, as traders took profits. US gold futures were 0.2% lower at $1,926.70.

Gold prices declined in Tehran despite the fact that foreign currencies advanced. Domestic gold prices are always influenced by currency market trends.

The US dollar gained close to 1% in Tehran's free market and sold for 234,000 rials on Tuesday. One euro bought 270,000 rials, almost unchanged compared to Monday�s close.

Selected moneychangers affiliated to the Central Bank of Iran offered the greenback at 204,901 rials.